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20130101
20130131
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along. i also am somewhat of a contrarian in china and the far east. i think things are going to bet better as the year progresses, the eurozone should benefit from the easy monetary policies that they've seen and we don't, we're not even arguing about a financial crisis in the eurozone right now. interest rates have come down in the harmed countries, so when i wrap it all together and i've got about ten other reasons why i like the stock market. i think the market is probably going to be up what it was this year. about 13% or so. i'm -- >> double what a lot -- >> well that's a bullish way, 10, 12, 13% of the market. gina martin adams is an equity strategist at wells fargo securities. ned talks off a lot of things, unemployment. auto, housing, asia. you put those same things into a mix and you don't get as optimistic a view as he does. >> it's more likely the market takes a little bit of pous and a lot of that is because of policy and everything that's going on in washington, creating some degree of limited risk tolerance. but the other key component is earnings. the market has risen
the technology area right now. last year, i bet on the cues. the year before i bet on the qs. i hear the case about slowing earnings, but the stocks have already slowed down. apple is 200 points below its high. if you start to look at them statistically, the price earnings ratios on big cap stocks are less than the s&p 500. the future, the future growth, secular growth of the industry has got to be twice that of the s&p, yet it's got a p/e ratio that's 3 percentage points less. 3 multiple points. the other factor i like about it is, this is the reason employment growth hasn't been strong. substitution of labor for capital, clearly we've seen productivity rise because of what's going on in technology. the world still has to be wired without any question whatsoever. and i get back to this valuation issue again, if you look at free cash flow, enterprise value versus free cash flow, the top five stocks in the big tech index are selling at half of the multiple that they were five and ten years ago. my god, this is an industry that's gone bananas on one side of the earnings and yet the price earnin
paying past bills, you bet into the cash flow aspect of this thing. basically what you're talking about is in order to increase the debt ceiling, we're giving the president the authority to put the burdened on our children and grandchildren. it's not about spending at all. it's about deficit spending. >> you said there's no doubt we are not going to default on our payments, the math indicates that if at some point -- why won't we? >> listen, our interest payments this year under $250 billion. we're going to bring in $ 2.5 trillion in tax revenue. ten times what the servicing on the debt is there is some cash flow aspects of turning over some debt. but basically the only reason you have to increase the debt ceiling is because we continue to deficit spend. we're actually spending $1 trillion more than we're bringing in. >> we're not, when you say -- >> that's the reason you have to increase the debt ceiling. >> when you say we continue to deficit spend. we've deny sit spent under this entire administration, under the entire previous administration as well. this isn't new, we never don't d
Search Results 0 to 2 of about 3